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Klobuchar Amendment Helps MN Businesses

by
Amy Klobuchar
Amy Klobuchar

WASHINGTON, D.C. (KDAL) - A budget resolution amendment cosponsored by Senator Amy Klobuchar would allow most states with a clear tax code to begin receiving sales tax revenues from online retailers and other out-of-state businesses, helping to level the playing field for small Minnesota businesses. The move allows states to require those online retailers to collect a sales tax, making it easier for consumers to justify shopping locally and forcing those online retailers to pay in to the state on those taxes. Had it been passed last year, the Marketplace Fairness Act would have meant an estimated $23 billion in revenue for the state, according to a news release put out by Klobuchar's office. The measure exempts small businesses that make less than $1 million in total remote sales in the year preceding. The legislation received broad bipartisan support, the release said.

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